Category Archives: taxes

Putting Your Tax Refund To Good Use

For many bankruptcy attorneys, the first quarter of the year is often a busy time.  Getting out of debt is a popular New Year’s Resolution and bankruptcy attorneys often encourage clients to use their refunds to pay their legal fees for a bankruptcy filing. While doing some research for this article, I read a number…

Bankruptcy, Discharged Debt and 1099 Forms

In January and February of each year, employers, lenders and businesses send out tax forms to people that need them to file their tax returns.  You might receive receive a W-2 form showing how much money you earned from a job or maybe a 1098 form sent by your mortgage lender to show how much…

Getting Rid of Tax Debts Through Bankruptcy

“You can’t get rid of taxes in bankruptcy.” True or false? A lot of people, even many bankruptcy attorneys, believe that taxes cannot be discharged in bankruptcy.  There are many tax debts that do survive bankruptcy such as “trust fund” taxes (i.e. taxes withheld from an employee’s paycheck).  However, some income taxes can be discharged…

Putting Your Tax Refund To Good Use

December is traditionally a slow month for bankruptcy attorneys.  I have always assumed that this is because people want to “have a good Christmas” or not face their bill problems.  January on the other hand tends to be very busy, which is not surprising because getting out of debt often pops up on lists of…